I personally don't believe DW-1 is a miracle fluid, and maybe only marginally better than Z1. That said, I've used the three aftermarket "majors" here (Val. ML, Val. IMV, Castrol IMV) and feel that the friction properties of the Honda fluid is best-matched to the transmission (as it likely should be). Objectively, I'd go along with an argument that any of the three "majors" listed above is a more "robust" fluid, likely with better basestocks, etc. But I still prefer the Honda fluid due to how my transmissions shift on the aftermarket fluid. It's not dramatically different, but I notice that stuff.
Because the DW-1 fluid is not terribly "robust" in my opinion, I simply change it more often (every 15k miles). My per-mile cost on DW-1 is far greater than it would be on MaxLife, but I like the way the transmission shifts on DW-1 compared with the aftermarket fluids, and like it enough to pay the premium. Others choose differently and that's okay too.
In support of Z1, I will say that our Acura was on the factory fill Z1 up through about 75k miles, which is the first time the ATF had ever been changed. Shifting was getting wonky, and it now shifts better than when we bought the car (at 58k miles). It's now closing in on 100k miles, and the transmission's doing great.